On The Deals Shaping Our Economy
Driving the news: The US president is issuing fierce ultimatums.
He is demanding global powers deploy military assets to secure the Strait of Hormuz after Iranian closures sent Brent crude prices surging past $106 a barrel.
Why it matters: President Donald Trump warned that Nato faces a "very bad" future if European nations refuse to join the US war effort in Iran.
"If there's no response or if it's a negative response I think it will be very bad for the future of Nato"
The pushback: Traditional allies are firmly balking.
German Chancellor Friedrich Merz declared Nato is "not an intervention alliance".
UK Prime Minister Keir Starmer insists Britain will "not be drawn into the wider war".
Japan and France also dismissed the prospect of dispatching naval vessels to the vital waterway.
Aviation Chaos
A drone attack sparked a fire at fuel tanks near Dubai's main airport, forcing a dramatic seven-hour shutdown.
The fallout: British Airways axed all flights to Dubai until at least June. Commercial aviation is bracing for prolonged, grinding conflict.
Between the lines: This represents the longest major airline cancellation of the war so far.
European rivals Air France and Lufthansa have paused their own flights until later this month.
Zoom in: Regional carriers are severely restricted. Emirates and Qatar Airways are squeezing active flights through narrow air corridors heavily patrolled by military fighter jets.
Beijing Summit in Jeopardy
The intrigue: Trump is weaponizing his upcoming diplomatic schedule.
The details: The president threatened to delay his highly anticipated summit with Chinese President Xi Jinping - his first visit in nine years - as he attempts to leverage Beijing into helping unblock the strait.
"I think China should help too because China gets 90 per cent of its oil from the straits."
The official line: US Treasury Secretary Scott Bessent claimed any postponement would be purely logistical, noting the president needs to stay in Washington to "coordinate the war effort".
The reality: Chinese state media fired back sharply.
The Global Times questioned if Washington wants to share responsibility or merely offload the risk of a conflict "that Washington started and can't finish".
Europe's Energy Fracture
The ripple effect: The Middle East conflict's economic toll is cracking European unity regarding Russia.
Catch up quick: The Gulf war has triggered severe spikes in oil and gas costs, forcing brutal economic conversations about household survival across the continent.
"We must normalise relations with Russia and regain access to cheap energy"
The bombshell: Belgian Prime Minister Bart De Wever is openly calling for the EU to abandon its current strategy.
"In private, European leaders agree with me, but no one dares to say it out loud."
Yes, but: His own foreign minister, Maxime Prévot, slammed the remarks.
Prévot warned that discussing normalization while Moscow maintains maximalist demands "sends a signal of weakness" and actively undermines European unity.